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RKVST named finalist in DCMS contest for UK’s Most Innovative Cyber SME 2022

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RKVST showcases zero trust fabric for trustworthiness of shared data, devices and SBOMs at Infosecurity Europe 2022

Cambridge UK – May 30, 2022: Zero Trust fabric provider, RKVST has been shortlisted in the UK’s Most Innovative Cyber SME 2022 contest, run by the UK Government Department for Digital, Culture, Media and Sport (DCMS) in partnership with Infosecurity Europe and techUK. The overall winner will be announced at Infosecurity Europe 2022, which takes place 21-23 June at ExCeL London.

RKVST has created a SaaS platform built on blockchain technology that delivers provenance, governance and immutability to prove the trustworthiness of shared data, devices and software. It allows developers to continuously prove who did what, when and to verify and trust data or applications that originate outside organisations in order to boost trust, reduce risk and speed operations. RKVST can also be used to share and manage the Software Bills of Materials (SBOMs) that identify all components in a particular application and are increasingly driving cybersecurity initiatives. The US cybersecurity Executive Order 14028 signed in May 2021 catapulted SBOMs to the forefront of efforts to improve the security of software cyber supply chains with zero trust.

Jon Geater, says:
“Digital transformation offers so much to improve our way of life, our climate goals, and citizen wellbeing. But issues of trust in digital and connected systems – particularly infrastructure – are holding us back. RKVST zero trust fabric aims to bridge those trust gaps and enable safer, more trustworthy digital systems so that we can all enjoy a cleaner, greener, safer future. RKVST was founded specifically to solve some of the thorniest problems of trustworthy systems in areas DCMS is particularly also interested in, such as smart infrastructure, so to be recognised in this way is really important to us.”

RKVST will be exhibiting on stand L115 at Infosecurity Europe 2022, and is speaking at the event: Tuesday, 21 June, 14:30-14:45, Innovation Showcase – Bridging the Trust Gap, Jon Geater

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Wednesday, 22 June, 12:00-12:15, Innovation Showcase – Partner to Bridge the Gap, Rob Brown

Thursday, 23 June, 12:00-13:00, N80 – Infosecurity magazine panel discussion Quantum and Cyber

About RKVST zero trust fabric
RKVST (pronounced Archivist) is a SaaS platform that bridges the trust gap between enterprises.

Customers use RKVST to solve challenges in handling nuclear waste, software transparency, zero trust connected devices, compliance in construction industries and many more business problems that could be solved if you only knew confidently who did what when and make reliable business decisions with real-time trust context. RKVST captures the identity of sources and origin of data (provenance), enforces sharing and visibility rules with strong cryptography (governance), and is underpinned by a ledger that prevents forgery, back-dating, or shredding of evidence (immutability). Together, provenance, governance and immutability bridge the trust gap.

About RKVST
RKVST was founded by experts in IoT, cybersecurity, digital identity and blockchain with a vision to overcome the biggest challenge in digital transformation and connected operations: trust. RKVST products and services bridge the trust gap, enabling developers to build, and business users to control, verifiable digital trust between organizations. To learn more visit RKVST.com

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Note to editors:
For more information or to arrange a meeting at Infosecurity Europe, please contact:
Tracey Treanor or Peter Rennison, PRPR, [email protected] / [email protected], + 44 (0)1442 245030

Source: RealWire

RealWire is an award-winning online press release distribution service with over 15 years of experience, and is first choice for many of the UK’s top agency, freelance and in-house PR professionals. RealWire’s service can increase your story’s coverage and improve your online visibility. The UK’s leading innovator in press release distribution, RealWire introduced the Social Media News Release in 2007 and relevance targeting system PRFilter in 2010.

Blockchain

PayPal receives New York crypto trust charter

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The New York State Department of Financial Services (NYDFS) has granted PayPal Digital a limited purpose trust charter, a designation typically held by digital asset custodians and some stablecoin issuers.

Last August, PayPal launched its PYUSD stablecoin, marking the first stablecoin from a BigTech company. Paxos Trust Company, which also holds an NYDFS limited trust charter, currently issues the PYUSD stablecoin. Paxos has been PayPal’s partner for its cryptocurrency services since inception. Consequently, the new trust charter may signal PayPal’s intention to take over the custody of its clients’ crypto-assets and potentially move the issuance of PYUSD in-house.

Despite reaching out to PayPal for clarification on the purpose of the trust charter, no response was received before publication.

The PYUSD stablecoin is still in its early stages, with its recent integration for cross-border payments via PayPal’s Xoom app. The stablecoin’s market capitalization has grown to nearly $400 million, up from $190 million in early April. Notably, wallets associated with the issuer Paxos hold over $125 million, possibly on behalf of PayPal. The top five wallets constitute 71% of the stablecoin balance, with 17 wallets holding $1 million or more, accounting for 97% of the total holdings.

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The largest holders include Paxos, Crypto.com, Curve (DeFi), Defiance Capital, and Frax (DeFi). Among these, Crypto.com holds a balance of $103 million and Bullish holds $23 million.

Additionally, in November, the SEC’s enforcement division issued a subpoena requesting documents related to the issuance of the PYUSD stablecoin.

Source: ledgerinsights.com

The post PayPal receives New York crypto trust charter appeared first on HIPTHER Alerts.

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Blockchain

Hong Kong SFC to conduct compliance checks on crypto firms

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The Hong Kong Securities and Futures Commission (SFC) has announced that it will conduct on-site compliance checks on local virtual asset trading platforms (VATPs) that are still completing their regulatory applications following the June 1 licensing deadline.

In a notice issued on May 28, the SFC emphasized that all local crypto trading platforms must be either licensed or “deemed-to-be-licensed” by the regulatory body before the June 1 deadline. Operating an unlicensed VATP in Hong Kong after this date will be considered a criminal offense, and the SFC will actively pursue non-compliant companies.

In the coming months, the SFC will perform on-site inspections of deemed-to-be-licensed VATP applicants to evaluate their compliance with regulatory requirements. These inspections will focus on how firms safeguard client assets and implement Know Your Customer (KYC) processes.

The SFC urged investors to trade cryptocurrencies only on SFC-licensed platforms to ensure their protection. It also cautioned companies seeking licenses against actively marketing their services or onboarding new retail clients until they are formally licensed. Additionally, firms must prevent mainland Chinese residents from accessing their services, adhering to China’s ban on cryptocurrency trading.

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Earlier this month, it was reported that the number of crypto exchanges seeking operational licenses in Hong Kong had been decreasing. Eleven crypto companies and exchanges, including well-known platforms like OKX and Huobi’s local arm, withdrew their applications ahead of the deadline. Currently, only 18 applications remain pending approval.

In response to the upcoming licensing requirements, some crypto firms have proactively taken steps to ensure compliance. For example, Gate.HK, a crypto exchange, halted all activities related to acquiring new users and marketing, prevented existing users from making deposits, and began delisting tokens on May 23. The exchange plans to relaunch its services after restructuring its platform to comply with Hong Kong’s regulatory requirements.

According to the SFC, only two companies, OSL Digital Securities Limited and Hash Blockchain Limited, have been granted licenses to operate in Hong Kong so far.

Source: tradingview.com

The post Hong Kong SFC to conduct compliance checks on crypto firms appeared first on HIPTHER Alerts.

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Blockchain

Argentina crypto group plans to set up a blockchain valley in Buenos Aires

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The crypto community in Argentina is planning to establish a “blockchain valley” in Buenos Aires as part of the Crecimiento movement, which has a following of 500 individuals.

This group includes prominent figures in the country’s crypto ecosystem, such as Diego Guitérrez, co-founder of Bitcoin Layer 2 Rootstock; Marcelo Cavazzoli, CEO and co-founder of Lemon Cash, a leading crypto purchasing app in Latin America; and Elian Alvarez, a general partner at Ripio Ventures.

Significantly, Crecimiento’s core team has the support of advisors to Argentina’s new libertarian president, Javier Milei.

Crecimiento aims to create a hub for crypto and technology-oriented business founders in the capital, offering a comprehensive three-dimensional plan. This includes bringing 5 to 10 million people on-chain by offering exclusive items, boosting the number of tech-related startups, and providing necessary support.

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The group’s mission is to work with Argentina’s newly crypto-friendly government to bolster the cryptocurrency sector through initiatives like tax rebates, industry investment, and simplified regulations.

During his campaign, President Milei highlighted the benefits of Bitcoin, associating it with a sense of freedom, though no formal statements have been made on the subject. Nonetheless, the group has been actively collaborating with officials to establish their crypto center in Buenos Aires.

Maria Milagros Santamaria, a Web3 lawyer, noted that regulators are showing a high level of positivity toward their proposals and are requesting specific plans regarding the crypto sector to move forward. She mentioned that there are only a few individuals opposed to the initiative, and fortunately, their numbers are minimal.

Source: cryptonewsz.com

The post Argentina crypto group plans to set up a blockchain valley in Buenos Aires appeared first on HIPTHER Alerts.

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